Minutes 10/13/2009 - Laserfiche WebLink

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October 13. 2009 WHEREAS, On July 21,2009 the City of Portsmouth was informed that it had been approved for funding in the amount of $4,808,249 subject to the successful completion of program requirements; and WHEREAS, funding will be through a loan issued to the City from the Virginia Resources Authority (VRA); and WHEREAS, of the funds received, 50% will be in the form of a zero % interest rate loan and 50% as principal forgiveness. WHEREAS, the VRA requires that the City execute a loan commitment letter as part of the loan closing for said funds. NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that it hereby authorizes to the City Manager to execute the loan commitment letter required by the Virginia Resources Authority and such other documents as may be necessary and in the City's best interests in order to obtain the subject funding." Ayes: Heretick, Moody, Psi mas, Randall, Smith, Whitehurst, Holley Nays: None 09 - 517 - Adoption of a resolution authorizing the City Manager to enter into a Programmatic Agreement with the United States Navy, the Virginia State Historic Preservation Officer, and the Portsmouth Redevelopment and Housing Authority concerning the conveyance of the former Navy YMCA building located at 517 King Street. Vision Principle: Thriving Neighborhoods and a Sense of Community. Background: . The building located at 517 King Street was opened in 1916 to house St. Joseph's Academy. . The building contained seven large classrooms, an auditorium and a library. . In 1949, the academy structure was expanded with a two-story addition containing 4 classrooms. At this time, the school became known as the St. Paul Elementary School. . Sometime thereafter, the property was purchased by the United States Navy. . In 1997, the State Historic Preservation Officer's National Register Evaluation Team determined that the Navy YMCA Building is not individually eligible for the National Register of Historic Places (NRHP), however, it was later identified as a contributing resource to the Portsmouth Downtown Historic District. The 1949 addition is also a contributing building. . The National Defense Authorization Act for Fiscal Year 2005 (Public Law 108- 375) authorizes the Department of the Navy to convey to the City of Portsmouth, Virginia all right, title and interest in 0.49 acres of land and all improvements thereon located at 517 King Street in Portsmouth, Virginia (Undertaking), and known as the Navy YMCA Building. Discussion: . The Navy has stipulated that as a condition of the property being transferred to Portsmouth, the property must be environmentally remediated (i.e., lead paint, asbestos, mold must be abated). . Further, once a user of the building is found, the property must be historically rehabilitated (i.e., restored such that that it conforms to the Secretary of the Interior's Standards for the Treatment of Historic Properties, specifically using the Guidelines for Rehabilitating Historic Buildings). . The Programmatic Agreement will allow, at such time deemed appropriate, for the deed of transfer to take place - transferring ownership of the property and building to the City. . The City, in turn, will then work with the Portsmouth Redevelopment and Housing Authority to find a qualified and able developer willing to abate and rehabilitate the property.